Balarampur Chini Mills saw its shares decline by 5% after the company reported a 23% year-on-year drop in net profit for the third quarter of FY24. As of 3:10 PM, the shares were trading 4.70% lower at Rs 452.80.
The sugar producer’s profit fell to ₹70.5 crore from ₹91.3 crore in the same period last year, mainly due to pressure on revenue growth. Revenue from operations also slipped by 3% YoY, reaching ₹1,192 crore compared to ₹1,230 crore in Q3 FY23.
Despite the decline in revenue, the company delivered a strong operational performance. EBITDA rose 9% YoY to ₹123.6 crore, reflecting improved cost management and efficiency. The EBITDA margin expanded to 10.4%, up from 9.2% in the previous year’s quarter.
Balrampur Chini Mills’ shares opened at ₹473.10, reaching a high of ₹475.35 and a low of ₹447.00. The stock remains volatile, trading significantly below its 52-week high of ₹691.80 but above its 52-week low of ₹343.50.
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